BUSINESS
Samsung raises 2010 smartphone sales target: report Posted September 3, 2010
SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS>, the world's No.2 handset maker, expects to sell up to 25 million smartphones this year, exceeding its earlier target, and aims to double shipments next year, media reports said on Friday. JK Shin, head of Samsung's Mobile Communications division ...More
Heavy in dollars, China warns of depreciation Posted September 2, 2010
BEIJING (Reuters) - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks. The Chinese government's currency reserves, the world's largest such stockpile at $2.45 ...More
Murdoch: Global economy is still not out of turmoil Posted September 2, 2010
NEW YORK (Reuters) - News Corp <NWSA.O> Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable "I do not believe we are out of the turmoil yet. Sovereign debt pressures, soaring deficits ...More
GM's new boss woos autoworkers in first staff memo Posted September 2, 2010
DETROIT (Reuters) - General Motors' <GM.UL> new boss Dan Akerson sent his first letter to staff on Thursday, saying he valued the role of organized labor in the company's success as GM heads into negotiations with its union-represented U.S. workers next year. Akerson, 61, is the fourth CEO ...More
Lehman preps bank units for sale or shutdown Posted September 2, 2010
NEW YORK (Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK>, the bankrupt U.S. investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show. Lehman asked a Federal bankruptcy court judge ...More
Burkle to appeal Barnes & Noble poison pill ruling Posted September 2, 2010
NEW YORK (Reuters) - Billionaire investor Ron Burkle plans to appeal a Delaware court ruling that upheld an anti-takeover "poison pill" put in place by bookseller Barnes & Noble Inc <BKS.N>. Burkle, whose Yucaipa Companies firm owns 18.8 percent of Barnes & Noble's shares and is its second largest shareholder ...More
